Guideline Value for BLUE MOON PROPERTIES

Blue Moon Properties guideline value

The current guideline value of Blue Moon Properties in Pallikaranai village, Chennai South Joint I SRO, is Rs 3,690 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - III.

How the guideline value of Blue Moon Properties has changed

In the 2017 revision, the guideline value for Blue Moon Properties was Rs 3,350 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,690 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO with a 2024 guideline value range from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, placing Blue Moon Properties above that median.

• Bhavani Amman Koil Street: Rs 8,580 per sq.ft (2024)
• Buela Nagar: Rs 1,320 per sq.ft (2024)
• Bharathiyar Street: Rs 1,650 per sq.ft (2024)
• Bharathiyar Nagar / Extn: Rs 1,650 per sq.ft (2024)
• Bharathi Street / Nagar: Rs 1,980 per sq.ft (2024)
• Chakrapani Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Blue Moon Properties

For a 1,000 sq.ft plot at the current guideline value of Rs 3,690 per sq.ft, the total guideline value amounts to Rs 36,90,000. The stamp duty at 7% would be Rs 2,58,300, and the registration fee at 2% would be Rs 73,800, resulting in a total of Rs 3,32,100. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Blue Moon Properties?

The Sub Registrar Office that covers Blue Moon Properties is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pallikaranai

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Pallikaranai, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Blue Moon Properties?

The current guideline value of Blue Moon Properties is Rs 3,690 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased by 10% from Rs 3,350 per sq.ft to Rs 3,690 per sq.ft in 2024. There was no change in the value from 2017 to 2023.

What is the land classification for Blue Moon Properties?

The land classification for Blue Moon Properties is Commercial Class I Type - III.

Where can I find the Sub Registrar Office for Blue Moon Properties?

The Sub Registrar Office for Blue Moon Properties is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Pallikaranai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 36,90,000, the stamp duty at 7% would be Rs 2,58,300.